TV Ltd. paid non-eligible dividends of $90,000 and capital dividends of $30,000 in the current year. Income

Question:

TV Ltd. paid non-eligible dividends of $90,000 and capital dividends of $30,000 in the current year. Income tax reference: ITA 129(1). Determine the dividend refund for the current year using the RDTOH balances calculated in Question Eleven. Assume the current year begins after 2018.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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